Day Trading Advice: Recovering From A Bad Day

[rdboy10]

meant "losing"..............lol

[rdboy10]

@capsula2007 I think what he meant was, he knew when to get out of a loosing trade.

[riceboi1983]

this is like my favorite video because it's the 100% truth.

[kurban22]

Video and advice much better than the mets! go phils

[capsula2007]

This guy seems like his guys trade short position more than being long. He said my traders know when to exit when there is a support. You dont sell at support, most trader intend to buy unless u r shorty.

I dont agree with reducing your size once you're building cash. Your efficiency is a constant indicator to make same % profit. Profit is proportional to your intial asset. The more you buy the more you make. This work only if you know that your efficincy is constant.

[TEDDYRIGHT]

WOW!!!!!!!!!!!  Thank You very much. Your video slapped me right where I needed it. I am a thousand dollar guy and everytime I try a different move -- I have a bad day.

[kishorekondepudi]

Absolutely true! I am a Commodities trader and have had those days, down 15k in a day only to get in to make it back again which as you mentioned always results in more losses. Getting back to the basics is whats important. hit singles again and start fresh, do not get into a mode of revenge trading.

[blingz22]

please teach me how to trade mann

[blingz22]

please teach me how to trade mannnn.... :)

[blingz22]

please teach me how to trade mannnn.... :)

[apogeus1]

so fukng true !

thx for brining back to earth :)

[channelislander]

Very wise words, man. Thanks.

[channelislander]

Very wise words, man. Thanks.

[noobcola]

Thanks for the advice. I pretty much had a consistently bad week (small losses everyday). Right now I have to take things slower and try to focus on small trades. It's really tough to see red for days straight though...

[eddyvideostar]

TRADING PANACEA.

I HAVE THE HOLY GRAIL OF DAY TRADING.

So basic and simple, but tough.

1) A good entry (of which you already know to employ.)

2) A pre-planned exit. (of which you have already built the emotions and discipline for: A profit target, trailing stop, or stop loss.)

3) To be aware that its just all you, predicting something that one doesn't really know for sure HOW THE MARKETS WILL PERFORM FROM ONE MINUTE TO THE NEXT -- only that you DO THESE THINGS.

Eddy.

[queenssupreme1]

EXACTLY THE WAY YOU PUT IT

[1967novawagon]

thank you for the reality check man.

[franke563]

It's true, after a hit, you *really* need to see some green on the screen even if it is done with smaller lots than you normally trade. The markets will otherwise sense a loss in confidence and will eat you alive!

[velious2121]

I'm a forex trader so I dont know anything about scalping stocks, but how has the event of black box trading effected day traders?

[swingkid]

Great stuff!

[AntiBullS]

great advise , recognizing mistakes early very important .

[yesnomaybeperhaps]

real good advice Ill keep it in mind when i trade,especially the defense part.

[jtking2504]

Hi, thanks for your excellent video and words of wisdom. You have definitely given me motivation to get back in there after a tough run, my experience is just like your collegue. I like the strategy to recover slowly, gradually make the money back defensively, reduce the amount and go back to basics. Excellent advice!

[LightspeedTrader]

His name is Marc McCord. He runs the Jericho LI office of Lightspeed Trading and is a long time trader.

[jece71]

with whom do you work? in what brokerage firm or trading floor? very good points for every trader